2012 Salary Survey Shows IT Skills Remain In Short Supply On The Street

Specialized IT skills remain in short supply and are demanding a premium in the marketplace. Here are 10 highlights from the 2012 Salary Survey.

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7. Job Stability

Despite the turmoil in the markets, financial services IT workers have been at their current job for an average of 7 years, while managers have an average tenure of 9 years. In addition, 75% of IT staffers have worked at just 1 or 2 companies during the past 10 years, while 75% of managers have been with 2 or fewer employers during the same period.

re: 2012 Salary Survey Shows IT Skills Remain In Short Supply On The Street

You'd think by now that banks would be less reluctant to provide training to their existing, valuable employees to meet these needs. -ŠYou'd also think that HR recruiters would be told to stop eliminating people just because they 1. were unemployed, and 2. only a 90 or 95% match to a job spec. -ŠThe shortages are no where near as bad as banks would have you think; they just have such horrific hiring practices. -ŠAlso, by whining about a shortage they can justify using H1B labor at much lower rates and also offshoring huge numbers of tech jobs. -ŠThere really is not much of a shortage of talent, just a shortage of money that management is willing to pay talent. -ŠExample; someone I know got laid off from his well paying job as a COBOL programmer, -ŠHe was then offered UP TO $23/hour -Što come back as a consultant with no benefits to do the same work when his firm couldn't find enough 'talent' in Bangalore, Mumbai and Manila. -Š